Economics of Human Robotic Engineering

In: Computers and Technology

Submitted By themissez
Words 3687
Pages 15
There are several areas that need to be explored when taking into consideration the economics of bionic human engineering because there are multiple parties involved in these considerations that include, the scientists, the patients, the doctors, the investors and the insurance companies. The culmination of these entities are what drive the research to happen in the first place based on the supply and demand strategies that the business environment drives. The interest in this technology for the scientist can stem from several different interests like personal interest in helping others, expanding technology, producing new ideas, and mainly an income source that will provide profitability for themselves and the companies that they work under. This profit margin on these types of technologies is what drives large scale companies to invest time and money into researching bionic engineering for human use. The risk of developing this type of technology is huge based on the amount of money needed to invest initially while still maintaining continuous investments throughout the life of the project itself. The benefits that all of these companies strive to obtain becomes endless once they have a working prototype that they can present to other investors. Most of these companies decide to produce the products themselves once they have perfected it, but there is a small amount that will sell the results to a company that is willing to then take on the responsibility of manufacturing the products. Overall the underlying priority of human bionic engineering is to provide the customer with a product that will allow them to function in the absence of the necessary human body parts needed to live a daily life while maintaining a profit that will allow them to continue research and development. The necessary investments needed to expand this technology are becoming increasingly…...

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